German lender Berlin Hyp and savings banks Lüdenscheid and Hochfranken have provided a €45 mln facility to finance the Duke office and commercial building in Berlin’s Kreuzberg district.
The financing is for a term of five years and was placed with the new S-Group product ImmoNachrang.
The asset is owned by Quest Investment Partners, which is planning to gradually renovat the asset.
The nine-storey multi-tenant property was built in 1999, has a rental area of 7,600 m2.
Swiss Life Asset Managers is expanding its development portfolio with the acquisition of a 47,000 m2 site in Altusried in the Allgäu region of Germany.
